Soon to launch in Mexico and Brazil, Revolut joins a long list of Stripe customers, including N26, Klarna, Ford, Spotify and even Twitter.
Revolut will now use Stripe’s financial infrastructure technology platform to power its payments in Europe and the UK.
Stripe’s international reach will also soon help Revolut enter and grow in new markets such as Mexico and Brazil to match their local payment preferences, the Irish-founded payments announced today (6 July).
With this latest partnership, Revolut joins a long list of tech companies that use Irish-founded Stripe to power their payments, including German neobank N26, Swedish fintech Klarna, US carmaker Ford, streaming giant Spotify, and even crypto payouts on Twitter.
“Revolut builds seamless solutions for its customers. That means access to quick and easy payments and our collaboration with Stripe facilitates that,” said David Tirado, vice-president of business development at Revolut.
“We share a common vision and are excited to collaborate across multiple areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18m customers.”
Founded in 2015, Revolut has become one of Europe’s most successful fintech start-up stories. The London-headquartered company now offers banking-related digital services to 18m and 500,000 businesses in more than 200 countries and territories.
Last month, the fintech even made its debut in the highly-competitive buy now, pay later market in Europe with roll-out starting in Ireland.
“Revolut and Stripe share an ambition to upgrade financial services globally. We’re thrilled to be powering Revolut as it builds, scales, and helps people around the world get more from their money,” said Eileen O’Mara, EMEA revenue and growth lead at Stripe.
Even though Revolut is Ireland’s most popular digital bank, with 1.7m of the 18m customers based here, the fintech is set to face stiff competition from Synch Payments, a collective undertaking by some of Ireland’s traditional banks to make banking mobile-friendly.
Synch may launch its Yippay app in the Irish market as soon as the end of this year, according to the Irish Times. But this may be postponed to 2023 if the timing is too close to the busy Christmas shopping season.
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